IFCA | Board of Directors and Management

Board of Directors and Management

The IFCA operates in a systematic manner, so as to bring the best benefits to its members. With operations being on a global scale, it becomes imperative to have a common ground for processes and procedures. In order to have smooth operations, and a methodical process for decision-making, operations are managed by a Board of Directors. These directors in turn elect a Management committee to oversee all events. The hierarchy is further elaborated as under.

The Board of Directors

The IFCA Board comprises of five officials, who are elected by the members. Each official holds office for a three year term. However, the positions are allotted such that at least one term expires every year, and a new Director is able to step in. These Directors are elected at the Annual General Meeting, another key event of IFCA, which is held along with the Financial Cryptography conference. At the time of the annual meeting, the Board members get together to analyze the activities of the IFCA and chalk out future plans. The team members help decide on outstanding matters and make plans for the next year. To ensure smooth operations, a Chair is elected by the Board, to preside over meetings, and other officials during this time. The role of the Board is to manage, control and direct the affairs, funds, and property of the IFCA. It can choose to invite guests or members in a Board meeting. Only the Directors can however make decisions at the meeting.

Management Officials

The activities of IFCA are monitored by a group of officers. These officials are elected by the Board of the IFCA for a period of one year. The highest office belongs to the President. He or she looks after the day-to-day functioning of the IFCA. The President represents IFCA while dealing with other organizations. The President is also responsible for appointing committees to help in conducting duties smoothly. The second-in-command is the Vice President, and his or her role is to perform duties assigned by the President or the Board. The Vice President is also eligible to take up the role of the President in his/ her absence. This may come up in case of incapacity, resignation, expulsion or death. The Vice President would then hold presidential office until the next election. The Secretary maintains the minutes of the Board meetings, Guidelines and the Bylaws of the IFCA. He or she also maintains records of the members. The Treasurer looks after the management of funds. He or she also maintains proper financial records and documents. The Treasurer can also recommend financial actions to the Board.

Compensation for the Board of Directors and Management officials is offered by the IFCA. This usually includes a waiver of the enrolment fee, travel charges and other benefits. A fixed honorarium or a commission may be given to the officials too, depending upon the decisions of the Board members.

With a flat hierarchy, decision-making is smoother and unbiased, allowing the IFCA to bloom to its full potential, and offer support to its members. In such a congenial environment, focusing the energies on the key area of financial cryptography thus becomes easier.

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